Great news! The annual limit for employee contributions to 403(b) and 457 plans will increase for 2022. The limit for employees under age 50 will increase to $20,500 and the limit for employees aged 50 and older will increase to $27,000.
To increase your 403(b) contribution for the first payday in 2022 (January 14, 2022), please complete the attached 2022 Salary Reduction Agreement and return it to Human Resources by 5:00 pm Wednesday, December 22, 2021.
To increase your 457 contributions for the first payday in 2022, please login to your or contact VRS Defined Contribution Plans at 1-877-327-5261 by Friday, December 31, 2021.
Questions?
Questions can be directed to the Benefits Team at benefits@odu.edu